*NOTE: Unranked schools on this list don’t have on-campus living options, so on-campus costs are not available.

Many are drawn there for its great values for higher education -- overall, New Mexico colleges have some of the highest college ROIs in the country. Others choose to matriculate in New Mexico because of its incredible natural beauty and several bustling, vibrant cities and towns. The New Mexico College ROI Report allows students and their families to identify the New Mexico colleges and universities that provide the best return on investment for their educational dollars. Whatever it is that makes you want to attend college in this fascinating state, consider using PayScale's data to zero in on the best value colleges in New Mexico before submitting any applications.

With its incredible 20 Year Net ROI, the New Mexico Institute of Mining and Technology, or NMT, handily earns the top slot in our New Mexico College ROI Report rankings. Incredibly, the average cost to earn a degree from this public school is just $69,300. Graduates get significant bang for their buck too, with alumni reporting a median return of investment of $583,700 over the 20 years following graduation. With financial aid, that number jumps to $610,800. Located in Socorro, New Mexico, NMT offers more than 30 bachelor's of science degrees in engineering management, technology, technical communication and the sciences. Its 320-acre campus is about an hour south of Albuquerque in the high desert, affording students plenty of opportunities for outdoor adventure. Since 1889, the school has been providing a value of college education New Mexico residents can use to build strong careers.

Located in Las Cruces, New Mexico, New Mexico State University is the oldest and second-largest university in the state. With its 186th national ranking for 20 Year Net ROI, it is one of the best value colleges New Mexico students can attend. Earning a degree from NMSU costs an average of $75,200, and the 20 Year Net ROI is $417,800 without financial aid and $450,500 with it. Made up of eight colleges and a graduate school, New Mexico State University offers 87 baccalaureate degree programs and 51 master's degree programs.

Ranked 448th nationally in terms of 20 Year Net ROI, the University of New Mexico provides a college return on investment New Mexico residents can use to establish strong, successful careers. Founded in 1889, its 600-acre campus is located just a mile east of downtown Albuquerque. UNM is made up of 12 colleges and schools, and its School of Engineering is consistently highly ranked. Its 20 Year Net ROI is $287,500; that figure jumps to $310,400 with financial aid. This bustling public university has produced many prominent alumni, including NFL players, state governors, district court judges and mayors of major U.S. cities.